Cibc World Markets Corp Acquires 2,869 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Cibc World Markets Corp increased its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 15.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,304 shares of the semiconductor company’s stock after purchasing an additional 2,869 shares during the period. Cibc World Markets Corp’s holdings in Enphase Energy were worth $1,463,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ENPH. Baillie Gifford & Co. boosted its stake in shares of Enphase Energy by 32.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after acquiring an additional 2,028,691 shares in the last quarter. Nordea Investment Management AB boosted its position in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after purchasing an additional 1,258,778 shares during the period. Aspex Management HK Ltd acquired a new position in Enphase Energy during the third quarter valued at approximately $48,442,000. Montrusco Bolton Investments Inc. raised its position in shares of Enphase Energy by 93.4% in the third quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock valued at $99,295,000 after purchasing an additional 424,327 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Enphase Energy by 372.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock worth $31,830,000 after buying an additional 365,356 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Trading Down 0.2 %

Shares of NASDAQ ENPH opened at $61.54 on Friday. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average of $62.60 and a two-hundred day moving average of $77.56. The company has a market cap of $8.15 billion, a PE ratio of 83.16 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, equities analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ENPH. Glj Research reiterated a “sell” rating and issued a $50.69 target price on shares of Enphase Energy in a report on Tuesday, February 4th. Susquehanna cut their price objective on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Barclays lowered their target price on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Truist Financial reiterated a “hold” rating and set a $65.00 price target (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Finally, Redburn Atlantic assumed coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $90.42.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.